This paper presents a comparison of three Finite Element approaches for modeling the behavior of a Capacitive Micromachined Ultrasonic Transducer (CMUT). CMUTs have become very popular over the last decade because of the comparable bandwidth, sensitivity and dynamic range with its piezoelectric counterparts. The ease of fabrication is an added advantage. Modeling of CMUTs is a coupled physics problem, which involves solving Electrostatics and Structural interactions simultaneous. Finite Element models of the CMUT are constructed using the commercial code ANSYS (9.0). Three different approaches of solving the coupled field problem are discussed and the results are compared for resonance frequency, collapse voltage, capacitance and electromechanical coupling coefficient. The approaches discussed involve sequentially coupled‐field analysis, direct coupled‐field analysis and reduced order modeling. Detailed results have been presented for the effect of variation in geometrical factors as predicted by the thre...